Agtech is tech solutions applied to the agri-food sector. As outlined in Agriculture 4.0: The Canadian Agtech Ecosystem, it’s important for several reasons:
Foresight Alberta surveyed the Province’s cleantech ventures in September 2020 in partnership with MaRS Data Catalyst and with support from the Alberta Ministry of Agriculture and Forestry.
Our survey received 73 responses from cleantech ventures headquartered in Alberta, representing roughly one-quarter of the 300 cleantech ventures we estimate were active in the Province last Fall. Survey questions covered company stage and enabling technologies, capital and revenues, key target markets and sectors, and founder team demographics.
A full report on the outcomes will be released later this year, building on previous Alberta cleantech sector reports in 2017 and 2019.
A number of survey findings point to the growing importance of agtech in Alberta.
of Alberta’s cleantech ventures are in agtech
patents secured by 13 agtech ventures who responded
of agtech founders are first-time founders; 25% are new Canadians
agtech ventures reported raising a total of $7.4M in capital in 2019 (average raise: $1,059,000)
each dollar of public investment mobilized $12 in private investment, compared to $2.73 for the wider cleantech sector.
of agtech ventures had revenue in 2019 with 60% of revenue coming from the US
The most significant immediate barriers to growth were identified as:
Impacts of the COVID-19 pandemic include:
In response to the pandemic, most ventures shifted focus and implemented new virtual practices. Many began targeting new geographic or industrial sector markets and new R&D directions. Close to one-third, 30%, reported receiving pandemic-specific relief from the Canada Emergency Business Account program (CEBA).
The most significant longer term barriers to growth according to Alberta’s cleantech companies are:
Each dollar of public funding mobilized a reported $12 in private investment during this period. $6.6M in private capital was raised by Alberta agtech ventures in 2019, matched by $542,000 of federal and provincial government funding. This indicates additional public funding would generate a significant increase in private investment.
The survey reinforced the need to foster collaboration across the supply chain to encourage knowledge sharing, problem solving and resource sharing. Leveraging energy-related knowledge in the province will lead to better support for sustainable agtech.
Livestock Water Recycling
Calgary, Alberta, Canada
Livestock Water Recycling works with farms around the world to help reduce greenhouse gas emissions, concentrate and segregate nutrients for strategic fertilizer application, and recycle clean, reusable water.
Learn more at livestockwaterrecycling.com
Questor Technology
Calgary, Alberta, Canada
Questor Technology is an international environmental oilfield service company headquartered in Calgary, Alberta with a field office in Grande Prairie, Alberta. Questor manufactures and services high efficiency waste gas incinerator systems, provides combustion and burner-related oilfield services as well as power generation systems.
Learn more at questortech.com.
